U.S. stock futures are rising on Wednesday, suggesting Wall Street would extend the previous session's solid gains through the final day of October, a rough month for equities; Facebook rises after earnings at the social media giant top forecasts; GM and Sprint report earnings.

Global fund managers are the most pessimistic on world economic growth since the financial crisis, according to Bank of America Merrill Lynch's benchmark monthly survey, although most are holding equity positions even amid concerns that corporate profits will slow and activity will ease amid the ongoing U.S.-China trade war.

Global fund managers continue to favor U.S. stocks over equity markets around the world, according to Bank of America Merrill Lynch's benchmark monthly survey, even as developments in Washington's trade war with Beijing create the most bearish outlook for the global economy in nearly seven years.

Jack Ma is leaving the company he built from a tiny apartment startup into a half-a trillion-dollar e-commerce powerhouse in less than two decades to chance his philanthropic dreams. But the folksy billionaire's departure comes at time of profound change for China's suddenly-vulnerable tech industry.